University Report: Digital Transformation in the Banking Industry
VerifiedAdded on 2022/08/11
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Report
AI Summary
This report examines the crucial digital transformation occurring in the banking industry, driven by the demand for 'anytime, anywhere banking.' It emphasizes the shift from traditional banking to digitalization, focusing on customer-centric approaches to meet evolving expectations. The report highlights the importance of understanding customer preferences and behaviors for effective digital transformation, aiming to improve customer financial health and engagement. Key areas of focus include leveraging data, reinventing customer journeys, building digital-driven organizations, and redefining operating models. The report also stresses the significance of an omni-channel approach for providing effective customer service through digital transformation, ultimately boosting Return on Equity (ROE) by enhancing revenue and reducing costs. The report references several sources that provide insights into the digital transformation in the banking industry.
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